Peach, a compliance, risk and change management company in the UK, have released a unique CMP (Compliance Mapping and Proof) certification scheme for financial institutions and software vendors, to help them with their FAS 157 compliance issues and challenges.
The certification is based on Abe Abrahami’s 34 year-experience that have helped blue chip companies and government agencies to save or increase revenue by an estimated $300 million.
The Financial Accounting Standards Board’s (FASB’s) standard FAS 157 takes effect as of 15 November, 2007. A company reporting at year-end will therefore be obliged to comply with FAS 157.
FAS 157 will change current practice by defining fair value; requiring certain methods to be used to measure fair value; establishing a three-level hierarchy for measuring ‘fair value’; expanding disclosures about fair value measurements.
Peach can cross reference FAS 157 to the other relevant frameworks for overlaps, thus integrating FAS 157 with other self-attestation audit questionnaire checklists and processes, avoiding duplication or triplication of information and implementation costs.
The Institute of Management Specialists accredits Peach’s proven and successful techniques and training courses.